Ethereum Price Forecast: $235 Seems Unbreakable For Ether


Ether’s price climbed higher above key resistances against the US dollar. However, ETH/USD was rejected from the all-important $235.00 resistance zone.

Key Highlights

Ether’s price surged higher and broke the $203.00 resistance against the US dollar.
ETH/USD is attempting close above a key bearish trendline at $214.00 on the 2-hour chart.
ETH/BTC remained well supported above the 0.0310BTC support.

Technically, the 2-hour chart indicators moved sharply higher in the bullish territory.

Ether Price Weekly Analysis

The past two sessions saw an increase in volatility, resulting in swing moves in ETH/USD. The pair formed a support base near the $195.00 level and started a solid upward move above the $200.00, $203.00, $210.00 and $220.00 resistances.

ETH/BTC remained confined in a tiny range above the 0.0310BTC support. It seems like the pair is preparing for the next break either above 0.0320BTC or below 0.0310BTC.

Ethereum Price ETHStarting with the 2-hour chart of ETH/USD, the pair surged higher and broke an ascending channel, with resistance at $204.00. More importantly, there was a break above the key resistance at $203.00.

It opened the doors for more gains and the price spiked above the $210.00 resistance. Ether’s price traded above the $220.00 resistance and tested the next important hurdle at $230.00. Sellers successfully defended the $230.00-232.00 resistance, resulting in a fresh downward move.

The price declined and traded below the $220.00 support and the 38.2 percent Fibonacci retracement level of the recent upside from the $187.00 low to $232.25 high. At the outset, the price is attempting close above a key bearish trendline at $214.00 on the 2-hour chart.

Ether Price Analysis ETHThe 30-minute chart of ETH/USD indicates that the price is forming a short-term breakout pattern with resistance at $215.00 and support near $210.00. Should Ether settle above the $214.00-215.00 resistance, there could be a fresh upward move toward the $225.00 level in the coming sessions.

On the flip side, if the price breaks the $210.00 support and the 50 percent Fibonacci retracement level of the recent upside, it will most likely revisit the $203.00 support (the previous resistance).

Important Resistance Levels

$215.00 and $220.00

Important Support Levels

$210.00 and $203.00

2-hour RSI

The RSI is now placed nicely above the 60 level.

2-hour MACD

The MACD moved strongly in the bullish zone.
Source: Ether
Keywords: Ether, Bitcoin, ETH